Zacks Investment Research downgraded shares of Dana (NYSE:DAN) from a buy rating to a hold rating in a report published on Monday, Zacks.com reports.
According to Zacks, “Dana Inc. is a provider of technology driveline, sealing and thermal-management products. The company’s operating segment consists of Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies and Power Technologies. It operates primarily in North America, South America, Europe and Asia pacific. Dana Inc., formerly known as Dana Holding Corporation, is headquartered in Maumee, Ohio. “
Other analysts have also issued reports about the stock. Wolfe Research lowered shares of Southwestern Energy from a peer perform rating to an underperform rating in a research report on Thursday, April 18th. Barclays reissued a buy rating and issued a $138.00 price target on shares of EOG Resources in a research report on Wednesday, March 13th. Royal Bank of Canada raised their price objective on shares of Power Financial from C$33.00 to C$36.00 and gave the company a sector perform rating in a research report on Tuesday, March 12th. Credit Suisse Group began coverage on shares of Magna International in a research report on Wednesday, June 26th. They set a neutral rating and a $55.00 price objective on the stock. Finally, ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Dana currently has a consensus rating of Buy and a consensus target price of $21.00.
NYSE DAN opened at $17.97 on Monday. The stock has a 50 day moving average of $17.19. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 6.05, a price-to-earnings-growth ratio of 1.62 and a beta of 2.19. Dana has a 52-week low of $12.65 and a 52-week high of $21.79.
Dana (NYSE:DAN) last posted its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.18 billion. Dana had a net margin of 5.11% and a return on equity of 31.31%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, equities research analysts predict that Dana will post 3.33 EPS for the current fiscal year.
In related news, VP James D. Kellett sold 2,825 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $16.05, for a total transaction of $45,341.25. Following the transaction, the vice president now owns 2,704 shares of the company’s stock, valued at $43,399.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in DAN. Norges Bank acquired a new position in Dana during the fourth quarter valued at approximately $30,517,000. Precision Path Capital LP grew its holdings in Dana by 270.3% during the fourth quarter. Precision Path Capital LP now owns 1,370,000 shares of the auto parts company’s stock valued at $18,673,000 after purchasing an additional 1,000,000 shares during the last quarter. Two Sigma Investments LP grew its holdings in Dana by 150.9% during the fourth quarter. Two Sigma Investments LP now owns 1,384,880 shares of the auto parts company’s stock valued at $18,876,000 after purchasing an additional 832,815 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Dana by 373.8% during the first quarter. Assenagon Asset Management S.A. now owns 922,649 shares of the auto parts company’s stock valued at $16,368,000 after purchasing an additional 727,918 shares during the last quarter. Finally, Gotham Asset Management LLC grew its holdings in Dana by 919.9% during the fourth quarter. Gotham Asset Management LLC now owns 740,189 shares of the auto parts company’s stock valued at $10,089,000 after purchasing an additional 667,616 shares during the last quarter. Institutional investors own 94.24% of the company’s stock.
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Drive and Motion Technologies, and Power Technologies.
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